About the Project:

Hampshire Tower Apartments is making significant improvements to its energy footprint, and solar is one of the measures it is using to get there. By installing solar, Hampshire Tower Apartments will offset approximately $20,000 in energy costs per year and generate an additional $5,000 in SREC revenue. Not only will the system mitigate greenhouse gases, it will produce a positive net cash flow for the property that will help maintain the affordability of energy costs of residents for years to come.

Financing Details

The Green Bank—in partnership with City First Enterprises—provided 100% of the project costs. The total project cost was $370,000.

Montgomery County Green Bank’s Role

The SBESS Program developed by Montgomery County Green Bank and City First Enterprises allowed Hampshire Tower Apartments to access flexible capital in a manner that made this project practical and profitable.

Project Snapshot

Building Type:

Hampshire Tower Apartments is a 216-unit affordable high-rise multifamily building located in Takoma Park, MD.

Property Upgrade Summary:

Installation of a 159 kW solar array by Solar Energy Services, Inc. on the roof of the 250,518 sq. ft building.

Loan Amount:

$370,000 Small Business Energy Savings Support (“SBESS”) loan by the Montgomery County Green Bank and City First Enterprises.

For those who can benefit from decreasing operating expenses because of energy efficient equipment, infrastructure, and their physical space, the Small Business Savings Energy Savings Support program is a way to make those investments in a way that generates net positive cash flow.

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